WHITE PLAINS, N.Y. -- Bunge Limited Tuesday announced that its Board of Directors has approved a program for the repurchase of up to $700 million of Bunge's common shares through Dec. 31, 2011.

Alberto Weisser, Chairman and CEO, stated "We remain focused on growing our business through a combination of organic growth and acquisitions. However, following the recent closing of the sale of our Brazilian fertilizer nutrients assets, our strengthened financial profile also provides an excellent opportunity for us to return capital to shareholders."

The repurchases will be made from time to time through a variety of means, including in the open market, in privately negotiated transactions or through other means as determined by Bunge, and in compliance with applicable legal requirements. The timing and number of shares repurchased will depend on a variety of factors, including share price and market conditions, and the program may be suspended or discontinued at any time at Bunge's discretion.

SOURCE: Bunge Ltd.